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06-09-2019

Exclusive buildings for rent in the Panevėžys FEZ

A 5,000 m² building will be completed in the Panevėžys Free Economic Zone by the end of 2020. The project developer is Gedstos NT, which has already built a factory this year at the FEZ for IMG Lithuania, a subsidiary of IMG Norway. It is planned to invest more than 2.5 million euro in the first stage of construction, and a similar amount is planned for the second stage, to be completed in 2021.

Rokas Krivonis, the CEO of the Panevėžys FEZ, explains: “This is an important achievement for the region because the area until now has lacked suitable facilities to offer investors. Because the real estate market is not very active, opportunities to attract new investors have been missed, and financing by banks in the region is quite limited, so constructing a building without having a tenant in advance is almost impossible.”

The construction of facilities attractive for leasing offers an opportunity for potential investors to occupy top-quality facilities within an especially short waiting period. This will create enormous added value for the Panevėžys Free Economic Zone, where potential investors will be offered an even wider assortment of exceptional services. This also means the creation of new jobs for the Panevėžys region. When an investor is freed from worrying about specific legal or administrative concerns, the investor can occupy the desired facilities in the shortest possible time and focus on business operations. The Panevėžys FEZ already has the solution the investor needs: ready-to-occupy facilities which can be tailored to a particular company’s profile, needs and specifications.

Built-to-suit buildings for leasing are especially popular in Europe. Their greatest advantage is the opportunity for a company to occupy facilities and begin operations within a few months or even days. A building with an A+ energy efficiency rating, using solar panels and a geothermal heating system, will be built at the Panevėžys FEZ. The Panevėžys FEZ offers a special set of services to potential investors, “EasyStart”. The construction of the new built-to-suit building for leasing will offer even more opportunities to attract potential investors to the Panevėžys region. At present, negotiations are taking place with potential tenants of the first-stage facilities. It is hoped that the negotiations will prove to be beneficial for all.

The Panevėžys region is attractive to potential investors due to its convenient location along the Via Baltica (European route E67). Three companies already operate at the Panevėžys FEZ: the Norwegian-owned IMG Lithuania, a furniture maker; Devold of Norway, a maker of high-quality woolen textiles; Spektrus EU, a producer of large-format advertisements.

Rokas Krivonis, the CEO of the Panevėžys FEZ, emphasises the shared goal of Panevėžys-based manufacturers and the municipal government, “to make the city a centre for the fourth industrial revolution in northeastern Europe”. It is expected that new investors at the Panevėžys FEZ will not only create new jobs, but also focus on using the latest technologies in their business operations.

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